Expect a tidal wave entrance into gold – Gerald Celente

Today top trends forecaster Gerald Celente discussed gold at length, as well as other important trends with King World News. Celente is the founder of Trends Research, and the man many consider to be the top trends forecaster in the world. Celente predicted, “a tidal wave entrance into gold,” because “the entire financial system is in collapse.” But first, here is what Celente had to say about what is happening around the world: “The highlight for the moment is on Greece, but let’s remember that Greece only counts for 2% of the eurozone GDP. It’s more about publicity. How will it look if they leave? Also, everybody knew that the $125 billion (for Spain) was a drop in the bucket compared to the trillions of dollars of debt.”

“What’s going to happen with the Italians with their bond yields skyrocketing? So with each day it’s a new catastrophe. With each new catastrophe you hear the same lines from the central bankers and the politicians, ‘We have to fix this one. If we don’t fix this one, the whole world will go up in smoke.’ So this is really serious.

Start putting the others pieces together….

“The Chinese just lowered their interest rates, along with the Australians. What’s going on in Brazil? GDP is really dropping. India is going down as well. Output in the United States is falling, but the stock market is going up. How come? Because of speculation of more stimulus.

It’s all tied together. The entire financial system is in collapse. It’s not about the Greeks, Spanish, Italians, English, Americans, the Chinese, it’s about everybody. So that’s what we’re looking at, and it all comes back to gold.

Do you remember in the winter edition of the Trends Journal, we warned of bank runs and bank holidays. We thought they were going to happen first in the US. Our timing was a little off with the country, but we nailed it. There are bank runs in Greece, Spain, Italy, and they are making it more and more difficult to get your money out. If I was a European, why would I have my money in the banks?

I’ve always made it very clear, I only put my money in gold and silver. Here is my take on gold, the next big breakout point is $1,655. After that it’s $1,675, and then $1,700. For me to see gold strong again, it has to break the $1,850 mark.

I believe a tidal wave entrance into gold will happen when there’s a real collapse and catastrophe that they can’t paper over anymore. So when does the crash point happen? No one can tell, but all of the cards are in place for the house of cards to collapse.”